Saudi Finance Minister Heads Kingdom's Delegation ‏to IMF-WBG 2024 Spring Meetings ‏

 Saudi Minister of Finance Mohammed Al-Jadaan gestures as he speaks during the Saudi Green Initiative Forum, in Riyadh, Saudi Arabia, October 23, 2021. REUTERS/Ahmed Yosri
Saudi Minister of Finance Mohammed Al-Jadaan gestures as he speaks during the Saudi Green Initiative Forum, in Riyadh, Saudi Arabia, October 23, 2021. REUTERS/Ahmed Yosri
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Saudi Finance Minister Heads Kingdom's Delegation ‏to IMF-WBG 2024 Spring Meetings ‏

 Saudi Minister of Finance Mohammed Al-Jadaan gestures as he speaks during the Saudi Green Initiative Forum, in Riyadh, Saudi Arabia, October 23, 2021. REUTERS/Ahmed Yosri
Saudi Minister of Finance Mohammed Al-Jadaan gestures as he speaks during the Saudi Green Initiative Forum, in Riyadh, Saudi Arabia, October 23, 2021. REUTERS/Ahmed Yosri

Saudi Finance Minister Mohammed Al-Jadaan will lead the Kingdom's delegation at the International Monetary Fund and World Bank Group 2024 Spring Meetings in Washington from April 15 to 20.

The Saudi delegation will also include Central Bank Governor Ayman Alsayari, Saudi Fund for Development CEO Sultan Almarshad, Assistant Finance Minister Abdulmuhsen Alkhalaf, International Monetary and Financial Committee Deputy Chair Ryadh Alkhareif, Deputy Finance Minister Khalid Bawazier, and experts from the Ministry of Finance, the Central Bank, the Ministry of Economy and Planning, the Saudi Fund for Development, and the Zakat, Tax, and Customs Authority.

Al-Jadaan will chair the first meeting of the International Monetary and Financial Committee since the Kingdom's three-year chairmanship announcement. The committee will discuss global economic developments, growth prospects, and risks, along with global economic policy priorities.

Al-Jadaan and Alsayari will also participate in the 2nd G20 Finance Ministers and Central Bank Governors Meeting under the Brazilian Presidency, focusing on global economic issues and enhancing cooperation.

Additionally, Al-Jadaan will attend a meeting of the World Bank Group's Development Committee, discussing strategies for addressing global development challenges.

The spring meetings bring together finance ministers, central bankers, international organizations, private sector executives, civil society representatives, and academics to discuss global concerns, such as the economy, sustainable development, poverty eradication, and other economic and financial topics. ‏



Israeli Assets Slide as Regional Tensions Escalate

New Israeli Shekel banknotes and coins are seen in this picture illustration taken November 9, 2021. REUTERS/Nir Elias/Illustration/File Photo
New Israeli Shekel banknotes and coins are seen in this picture illustration taken November 9, 2021. REUTERS/Nir Elias/Illustration/File Photo
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Israeli Assets Slide as Regional Tensions Escalate

New Israeli Shekel banknotes and coins are seen in this picture illustration taken November 9, 2021. REUTERS/Nir Elias/Illustration/File Photo
New Israeli Shekel banknotes and coins are seen in this picture illustration taken November 9, 2021. REUTERS/Nir Elias/Illustration/File Photo

The cost of insuring Israel's debt against default rose on Thursday, and its bond prices and stock indexes slid, as regional security concerns spiked and the country's own government wobbled.

Israel's five-year credit default swaps rose nine basis points (bps) from Wednesday's close, to reach 107 bps, according to S&P Global Market Intelligence, while its international dollar bonds slid more than 1 cent, Reuters reported.

The 100-year issuance, which matures in 2120, shed more than 1.3 cents before retracing some of the loss to be bid at 67 cents on the dollar, Tradeweb data showed.

"A possibility of a more pronounced geopolitical deterioration may take its toll on the local economy and the fiscal deficit, and also make it more challenging for Bank of Israel to lower its rates later this year," said Ronen Menachem, chief markets economist with Mizrahi Tefahot Bank.

The United States has restricted government employees' travel outside certain Israeli cities, and pulled some personnel out of the Middle East, due to escalating tensions with Iran.

Benjamin Netanyahu more time resolve its worst political crisis yet and avoid a ballot that polls suggest he would lose.Israel's parliament rejected early on Thursday a preliminary vote to dissolve itself, giving the ruling coalition led by Prime Minister

Israel's stocks also slid, with the blue-chip and the broader indexes down roughly 2%. The shekel currency fell just less than 1% versus the US dollar, to 3.56, but remained up 2% year to date.

Still, Menachem noted that local indexes are near all-time highs, and assets have rebounded from other recent security related declines.

Markets broadly moved into risk-off mode, with oil prices spiking and fixed income instruments in other emerging markets coming under downward pressure.